J.L. Halsey posts 41% increase in Q4 revenue
With strong demand for its hosted e-mail marketing applications, e-marketing services provider J.L. Halsey Corp. posted record quarterly revenue of $10.8 million for the fourth quarter ended June 30, up 41% from $7.7 million a year ago. Full-year revenue rose 60% to $39 million from $24.4 million.
“Our results for the quarter reflect continued organic growth for our e-mail marketing software offerings, where revenues were up 23% year-over-year,” says CEO Luis Rivera. “We are especially pleased with the organic growth of our hosted e-mail marketing software offerings, which increased by 30% year-over-year.”
J.L. Halsey notes that its Internet on-demand services accounted for 64% of Q4 revenue, while licensed software accounted for 20% and maintenance and services, 16%.
Q4 results for both years reflect the company’s August 2006 acquisitions of web analytics provider ClickTracks Analytics Inc. and web content management provider Hot Banana Software Inc., though J.L. Halsey did not break out financial figures for either operation. ClickTracks and Banana Software continue to operate under their own brands as units of J.L. Halsey, whose other units include e-mail technology and services organizations EmailLabs, Lyris and Sparklist.
Q4 net income recorded on a GAAP basis rose more than fivefold year-over-year to $2.1 million from $364,000. GAAP figures are based on generally accepted accounting principles. Non-GAAP net income for the quarter, which excludes amortization costs and stock-based compensation expenses, rose 69% to $2.2 million from $1.3 million a year ago.
For the full fiscal year ended June 30, J.L. Halsey reported GAAP net income of $351,000 on revenue of $39 million, compared to GAAP net income of $2.6 million on $24.4 million in revenue for the prior fiscal year. On a non-GAAP basis, the company reported net income for the year ended June 30 of $3.4 million, down from $5.1 million the prior year. Non-GAAP net income excludes amortization costs of intangibles of $4 million in fiscal 2007 and $2.6 million in fiscal 2006. It also excludes stock-based compensation expenses and the impact of discontinued operations.
J.L. Halsey also says it plans to launch later in the current calendar year a new e-mail marketing platform, Lyris HQ, which it is designing to support cross-selling programs.
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